Which stocks have strong momentum, bullish chart pattern and potential for swing trade?
10/12/2024 11:19am
For swing trading, it's crucial to identify stocks with strong momentum and bullish chart patterns. Here are the criteria we used to find suitable stocks:
1. **High Relative Strength Index (RSI)**
- RSI > 60
2. **Positive Short-Term Momentum**
- 3-Day Percentage Change > 0
3. **Consistent Upward Trend**
- Closing Price > 5-Day, 10-Day, and 20-Day Moving Averages
- 20-Day Moving Average > 50-Day Moving Average
- 50-Day Moving Average > 200-Day Moving Average
4. **Bullish Chart Pattern**
- Formed a bullish pattern, such as flat base, hammer pattern, breakout from inverse head & shoulder pattern, bullish flag, or cup and handle pattern
5. **High Trading Volume**
- Trading Volume > 1 million shares
6. **Sufficient Market Capitalization**
- Market Capitalization > $1 billion
After sorting by percentage change, the **10** stocks that meet these criteria are:
These stocks demonstrate strong momentum and bullish chart patterns, making them potential candidates for swing trading.